Simpson Thacher is advising Radius Recycling, Inc. (“Radius”) in connection with its announced acquisition by Toyota Tsusho America (“TAI”), a U.S. subsidiary of Toyota Tsusho Corporation (“TTC”), for $30.00 per share in cash, in a transaction valued at approximately $1.34 billion enterprise value. The transaction is expected to close in the second half of 2025, subject to customary closing conditions, including approval of Radius shareholders and receipt of regulatory approvals.
Radius is a leading North American recycler of ferrous and nonferrous metals with 54 operating facilities across 25 states, Puerto Rico and Western Canada. TTC, an affiliate of the Toyota Group, is a Japanese trading company headquartered in Nagoya and Tokyo with approximately $65 billion in global revenue and 70,000 employees worldwide.
The Simpson Thacher team includes Eric Swedenburg, Jakob Rendtorff, Kevin Tsai, Sam Buchman, Christopher Haughey, Justin Jang and Zhendong Xu (M&A); Karen Hsu Kelly (Corporate); Larry Moss, Jamin Koslowe and Courtney Thomson (Executive Compensation and Employee Benefits); Lori Lesser and Sara Liu (IP); Eli Isak and Kyle Nelson (Banking & Credit); Russell Light, Adam Hersch and Jiha Min (Tax); Drew Kofsky (Labor); Krista McManus and Dennis Loiacono (Real Estate); Toby Chun and Deepa Sarkar (Environmental); Karen Kazmerzak and Matthew Evola (Antitrust); Mick Tuesley, Claire DiMario and Austin Lowe (FDI); Abram Ellis, Christine Tillema and Anais Bourbon (Regulatory); and Stephen Blake (Litigation).